# 119-hr-10471: CLAIM Act

119-hr-10471, CLAIM Act, is a 119th Congress bill sponsored by Rep. Velázquez, Nydia M. [D-NY-7] (D-NY); status introduced; PRIA reads it as touching household money (as of 2026-10-04).

- Canonical: https://policyrisk.com/legislation/119-hr-10471
- As of: 2026-10-04
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-10471
- Congress: 119
- Title: CLAIM Act
- Status: introduced
- Introduced: 2026-09-16
- Sponsor: Rep. Velázquez, Nydia M. [D-NY-7] (D-NY)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-10-04

## Summary

**Creates a federal safe harbor for insurers** that want to provide insurance and related financial services to cannabis businesses that operate legally under state or tribal law. It protects insurers from certain federal penalties while keeping state and tribal regulation intact and adds a study on access for minority and women owners. - Insurers: Federal agencies may not penalize, discourage, cancel, or limit insurers solely for serving state-legal cannabis businesses. Officers, directors, and employees are shielded from federal liability just for engaging in that insurance activity or investing income from it. - Financial services and businesses: The protection covers a wide set of payment activities including processing, clearing, settling, money transmission under 31 U.S.C. 5330, and armored car services. The law is permissive and does not force insurers to participate. - Market entry for minority and women owners: The Government Accountability Office must study licensing and finance barriers for minority- and women-owned cannabis businesses and report recommendations to Congress.

## Cosponsors (1)

- Rep. Davidson, Warren [R-OH-8] (R-OH), 2026-09-16T00:00:00.000Z

## Provisions PRIA read

- Definitions for cannabis and finance: benefit, low. If enacted, this bill would define key terms used in the Act. It would define "cannabis" to match the federal "marihuana" definition and define "cannabis product." It would define which businesses count as state-authorized cannabis-related legitimate businesses. It would also define "financial serv…
- Protections for insurers serving cannabis businesses: benefit, low. If enacted, Federal agencies would be barred from prohibiting, penalizing, or discouraging insurers from providing insurance to state-authorized cannabis businesses. Agencies could not terminate, cancel, limit, downgrade, or encourage avoiding coverage solely because a policyholder is a cannabis-re…

## Related bills

- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-6644: 21st Century ROAD to Housing Act
- 119-hr-7977: Energy Bills Relief Act
- 119-hr-7973: Momnibus Act
- 119-hr-1262: Mikaela Naylon Give Kids a Chance Act
- 119-hr-5658: Child Care for Every Community Act

## Sources
- [119-hr-10471 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/10471)

## Related
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644)
- [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-1262: Mikaela Naylon Give Kids a Chance Act](https://policyrisk.com/legislation/119-hr-1262)
- [119-hr-5658: Child Care for Every Community Act](https://policyrisk.com/legislation/119-hr-5658)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-10471 (as of 2026-10-04).